Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."

In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."

Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.

Follow Bob Pisani on Twitter @BobPisani.

More

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    For the most part, traders continue to respond to the strong earnings for a second day in a row. But it's not a uniform reaction.

  • For the second day in a row, global markets and U.S. futures responded to strong earnings reports. Last week, when investors sold bank stocks off after seeing no loan growth, there was considerable worry that this could turn into a "sell on any news" quarter with other sectors as well.

  • There are three factors driving today's rally.

  • earnings_central_badge.jpg

    The theme today: demand is clearly improving in several sectors, which is propelling better-than-expected earnings from a number of companies. Bad day for the dollar, though.

  • earnings_central_badge.jpg

    After the close, IBM reported earnings and revenues well above expectations ($2.41 vs. $2.29 consensus). In fact, it was the best first quarter of constant currency growth in 10 years.

  • It's a strange day: This is a commodity-led rally — as silver and gold hit new highs, and crude sits just below new highs, the midday stock advance is being led by energy and material names.

  • This craziness in Europe cannot continue. Greece just issued 13-week paper at a yield of 4.1 percent — to put this in perspective, Germany pays 3.8 percent for its 30-year bond. That's right: Greece is paying more for 3-month paper than Germany pays for a 30-year bond.

  • Under the proposal, Nasdaq/ICE says: 1) they are prepared to pay a reverse termination fee of $350 million in case the deal cannot close due to antitrust issues; 2) they have received fully committed financing of $3.8 billion.

  • "Although we believe these strengths currently outweigh what we consider to be the U.S.'s meaningful economic and fiscal risks and large external debtor position, we now believe that they might not fully offset the credit risks over the next two years at the 'AAA' level," said Standard & Poor's credit analyst Nikola G. Swann.

  • It's a holiday-shortened week, with many traders already off for Passover or Easter. While it's unlikely we will see much of the way in heroic trading or heavy volume, we are starting on a weak note.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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